Bajaj Auto registered web revenue of Rs. 528 crore for the primary quarter of FY21, which is a drop of 53 per cent over final 12 months. The steep decline in web revenue may very well be attributed to the disruptions attributable to the coronavirus pandemic.
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Bajaj Auto registered a drop of 64.47 per cent in complete gross sales for Q1 FY21
Bajaj Auto registered web revenue of ₹ 528 crore for the quarter of April-June 2020. This can be a drop of 53 per cent over final 12 months however consistent with the estimates of analysts. The corporate offered a complete of 443,103 items in Q1 FY21 in comparison with 1,247,174 items offered in Q1 FY20, registering a drop of 64.47 per cent. The full income too fell 54.82 per cent, with ₹ three,079.24 crore earned in Q1 FY21 towards ₹ 6,815.85 crore earned in the identical quarter final 12 months. The EBITDA of the corporate for Q1 FY21 stood at ₹ 441 crore, which is a drop of 64.72 per cent when in comparison with the EBITDA of the identical quarter final 12 months at ₹ 1,250 crore.
Additionally Learn: Bajaj Auto Aurangabad Plant Workers To Get 50 Per Cent Pay Cut
(Bajaj noticed its market share in twp-wheeler section develop from 18.5 per cent in Q1 FY20 to 20.7 per cent in Q1 FY21)
“Q1 of FY21 has been an especially difficult quarter because of the unprecedented COVID-19 pandemic. Lockdown and different containment / precautionary measures have resulted in disrupted provide strains and a pointy decline in general demand. Affect of this pandemic was skilled in India and in international locations throughout the globe that we export to. Whereas we’ve got restarted operations, sporadic localised lockdowns are disrupting the provision chain and impacting the power of the enterprise to return in direction of normalcy”, Bajaj stated.
Additionally Learn: Bajaj Auto Union Seek Plant Closure After 250 Employees Test Positive For COVID-19
(Bajaj Auto’s exports too fell sharply in Q1 FY21, by 54.21 per cent)
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By way of complete gross sales, there have been indicators of normalcy the place Bajaj had a slight progress in its market share, from 18.5 per cent in Q1 FY20 to 20.7 per cent in Q1 FY21. The corporate’s home gross sales within the quarter ended June 2020 fell 73 per cent to 191,263 items, when in comparison with 697,153 items offered in Q1 FY20. The corporate’s exports additionally fell 54.21 per cent, with 251,840 items exported as in comparison with 550,zero21 items exported throughout the identical time final 12 months. Bajaj additionally stated that the Indian marketplace for industrial automobiles noticed a powerful affect as a result of COVID-19 pandemic. The general Indian CV business noticed a decline of 91 per cent and Bajaj needed to bear the utmost brunt as it’s a market chief.
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